Lawrence E. Mitchell is fed up with “two years of almost relentless attacks on law schools,” and he uses this New York Times op-ed piece to make his case for their value.And why shouldn't he? Mr. Mitchell is dean of the law school at Case Western Reserve University, and he's convinced the institution does valuable work.“For at least two years, the popular press, bloggers and a few sensationalist law professors have turned American law schools into the new investment banks,” he writes. “We entice bright young students into our academic clutches. Succubus-like, when we've taken what we want from them, we return them to the mean and barren streets to fend for themselves.“The hysteria has masked some important realities and created an environment in which some of the brightest potential lawyers are, largely irrationally, forgoing the possibility of a rich, rewarding and, yes, profitable, career.”Mr. Mitchell acknowledges the job market for new lawyers is bad but notes “it's bad in many industries.” He adds that the “focus on first jobs is misplaced” because, “We educate students for a career likely to span 40 to 50 years. The world is guaranteed to change in unpredictable ways, but that reality doesn't keep us from planning our lives.”Lawyers still have strong earning power, Mr. Mitchell argues, with a median starting salary for practicing lawyers of $61,500 and a mean salary for all practicing lawyers of $130,490. Tuition increases have led to more debt, with the average student at a private law school graduating with $125,000 in debt.“But the average lawyer's annual salary exceeds that number,” Mr. Mitchell writes. “You'd consider a home mortgage at that ratio to be pretty sweet.”Plus, he contends, the tight job market will fix itself eventually.“As more senior lawyers retire, jobs will open, even in the unlikely case that the law business doesn't expand with an improving economy,” Mr. Mitchell writes.Fair points all, though it's worth noting that Case Western Reserve is among the law schools that has scaled back admissions as a result of the tight job market for lawyers.They're so money
Is there a visionary high school junior or senior in your house who can predict creative payment systems of the future? If so, he or she could pocket a $500 gift card from the Federal Reserve Bank of Cleveland.The bank's 2013 Creative Writing Contest is called “Future World: How Would You Like to Pay for That.”It asks students to submit “an essay, poem, play or short story” that explains how people will pay for the things they want and need in 2020.From the contest page: What does Future World look like to you? Is there cash, or are smart phones and PayPal the primary forms of payment for goods and services? Have there been major innovations in payment systems? Craft an essay, poem, play, or short story explaining what costs and benefits you envision in Future World.As you craft your composition, think about how economic principles will affect Future World. Are there issues of supply and demand as more people use mobile devices to make purchases? Have the innovations created unintended consequences?The deadline for submissions is Feb. 28, 2013. Entries are based on “comprehension, organization, conclusions, creativity and clarity.”Cleveland's favorite time of yearUSA Today is favorably impressed with Cleveland's holiday spirit.This story, on “10 great places to put a spin on the Christmas spirit,” suggests holiday travelers stop at the Christmas Story House in Cleveland.“Ralphie's home is perfectly preserved in this homage to the 1983 holiday film that's now a cult classic,” the newspaper notes. “The house used for the filming has been decorated to match the original set, and a museum includes costumes, props and memorabilia. A gift shop offers movie tie-in items such as leg lamps and Red Ryder BB guns.”The newspaper also recommends seven cookbooks as holiday gifts, and one of them is “Michael Symon's Carnivore: 120 Recipes for Meat Lovers,” co-authored by the celebrity chef and well-known local food writer Douglas Trattner.Among the book's stellar recipes: Grilled Rib Eyes with Watercress, Blue Cheese & Radish Salad; Pork Pie; and Smoked Pork Butt with Habanero Glaze.Why is it great for giving? “Not everyone's a vegan,” USA Today says. “Chances are, plenty of people on your gift list crave the sizzling, sometimes bloody delight of a well-cooked and seasoned hunk of meat.”